Regulacje i polityka gospodarcza · 30.10.1996

Outer Continental Shelf Lease Terms

This rule amends the regulations governing the term for certain leases on the Outer Continental Shelf (OCS) based on water depth. This rule changes the current depth margins for 8-year leases from 400 to 900 meters to 400 to 800 meters while retaining the mandatory 5-year drilling requirement for all 8-year leases. The amendment allows the Minerals Management Service (MMS) to set lease terms of 8 to 10 years in water depths ranging from 800 to 900 meters. The intended effect of this rule is to simplify administration of OCS leases for the MMS and the lessees.